BNP Paribas Financial Markets Acquires Shares of 14,123 Procore Technologies, Inc. (NYSE:PCOR)

BNP Paribas Financial Markets purchased a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,123 shares of the company's stock, valued at approximately $1,058,000.

A number of other hedge funds have also made changes to their positions in PCOR. Parkside Financial Bank & Trust lifted its position in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after purchasing an additional 162 shares in the last quarter. Huntington National Bank raised its position in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after acquiring an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Procore Technologies during the fourth quarter valued at approximately $56,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,203 shares of Procore Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total transaction of $289,628.73. Following the sale, the insider now owns 102,057 shares in the company, valued at $7,032,747.87. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 797 shares of Procore Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $68.99, for a total transaction of $54,985.03. Following the sale, the chief financial officer now owns 199,067 shares in the company, valued at $13,733,632.33. This represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,623 shares of company stock worth $3,144,659. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded down $0.37 during trading on Friday, reaching $67.30. The stock had a trading volume of 1,188,732 shares, compared to its average volume of 1,718,696. The stock has a fifty day simple moving average of $64.91 and a two-hundred day simple moving average of $72.71. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of -93.47 and a beta of 0.90. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Procore Technologies's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PCOR. Mizuho cut their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Barclays raised their price objective on shares of Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. BMO Capital Markets cut their price objective on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank cut their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.24.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.